Ethereum Classic is a decentralized open-source blockchain platform created by Russian-Canadian programmer Vitalik Buterin and other co-founders on July 20, 2016. Ethereum Classic is developed based on Ethereum’s blockchain technology, uses the Proof of Work consensus mechanism. It allows developers to build and deploy smart contracts—autonomous, self-executing code blocks that trigger certain actions based on predefined conditions.

ETC is a Token of the Ethereum Classic blockchain platform, used to promote the processing of smart contracts and network transactions, including:

• Gas Fee: ETC Token is used to pay gas fees inside the ETC network.
• Block Reward: ETC Token is used to reward miners for maintaining the safety and security of the Ethereum Classic network.